Halliburton’s President and CEO Jeff Miller says he is pleased with the company’s first quarter earnings report.
Who wouldn’t be? The company announced improved net income of $263 million or 29 cents a diluted share compared to $170 million and 19 cents a share one year ago.
Adjusted net income for the first quarter of 2022, excluding impairments and other charges and a loss on the early extinguishment of debt, was $314 million, or $0.35 per diluted share. Halliburton’s total revenue for the first quarter of 2022 was $4.3 billion compared to revenue of $3.5 billion in the first quarter of 2021.
Reported operating income was $511 million in the first quarter of 2022 compared to reported operating income of $370 million in the first quarter of 2021. Excluding impairments and other charges, adjusted operating income was $533 million in the first quarter of 2022.
“Total company revenue increased 24% and adjusted operating income grew 44% compared to the first quarter of 2021,” said Miller in announcing the financial report.